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Israel is described by the UN's Human Development Index as being a 'very highly developed' economy, with significant strengths in high-tech electronic products and research, biotech and pharmaceuticals, amongst other sectors. The Israeli economy is noted for the energy and success of its entrepreneurs and has the tenth highest concentration of millionaire households in the world. We work with numerous Israeli families or with individuals with strong ties to Israel, and our team of Israel specialists is based across the US, Europe and Asia, offering tax, wealth planning and succession advice.

CRS campaign bears further fruits

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Christina Baltz was recognized on Crain's 2018 Legal List as a Leading Woman Lawyer in NYC.

Track record

Managing inherited Israeli funds

We helped a US based family with inherited Israeli funds understand and navigate the structure of their inheritance. The non-US trustee was losing significant money each year through the investment strategy, structural inefficiencies and tax inefficiencies, and the inheritance had dwindled without being tapped for use by the beneficiaries. We delicately negotiated with the trustee to stop the hemorrhaging of the assets while working with the IRS to obtain a full penalty waiver for the beneficiaries with respect to failing to report their inheritance to the IRS (initial projections showed potential penalties well in excess of the remaining inheritance).

Penalty abatement for a US based family with investments in Israel

We negotiated a significant penalty abatement for a US based family with investments in Israel (which included substantial rental real estate holdings and financial assets) who had failed to include their Israeli assets in their annual US filings. The 8 digit abatement was obtained without the family needing to make an in person appearance before the IRS.

Advised on the USD$1 billion financing of the largest toll road in Israel

Advised the senior agent to existing international lenders to the Cross Israel Highway. Also known as 'Highway 6' and 'the Trans-Israel Highway' we advised on the financing provided to the concessionaire, Derech Eretz Highways Ltd. Operating what is the largest toll road in Israel, the highway has generated investment in excess of USD$1 billion and was the biggest infrastructure project in Israel for many years and was the first major build-own-operate-transfer project in Israel.

Acting for an Israeli beneficiary in a banking dispute

Advising on a Letter of Credit dispute on behalf of an Israeli beneficiary against an issuing bank in connection with an emerging market energy project

Israeli Tier 1 visa application

Advising a high net worth Israeli entrepreneur on visa applications for him and his family under the Tier 1 (Entrepreneur) visa category and subsequently assisting with their applications for permanent residence in the UK.

Navigating the offshore voluntary disclosure program

We helped a US based family with accounts at a well-known and respected Israeli bank navigate the offshore voluntary disclosure program, obtaining excellent results with respect to minimizing inclusions of assets in the penalty base.